New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-04-15
CLOSING PRICES OF BOSTON STOCKS.
Bosroy April II. 1897.
THURSDAY, April l4-P. VI.

The stool, market to-day until the last hour generally
subject to persistent and continued sales Tor reaizf
ton The list thus treated included Chicago and North
western, 81. Paul, Minneapolis and Omaha, New-foiK
Central, Lake Shore, Erie. NcwYOrk and New'Engand'
Delaware, Lackawanna and Western, Philadelphia ana
Reading and Western Union. Central Of New-Jersey,
which yesterday the conspicuous feature OF the up
ward movement and which movement did as much rs
any other thing to unsettle the general market,
opened Il closed at sl the transactions In 1t to-day
amounted only TO little more than one-haf OF those ofyes
terday price easily declined TO SO aud closed at 81
despite the fact that per cent was paid all day for one
days use certificates II there il cause present or
prospective stock OF the Central Railroad OF New
Jersey commanding any scl figures AS those which are
quoted In the market 1t Is a knowledge
possessed by few persons that tho entire capital con
be easily bought In the AT
80 the present figure The movement and Its causes
ifany there are. mysterious enough To set ailoat
as facts tho vaporings OF hundred magnations. This
stock has famous I'm that respect since 1870
Since its decline In 1877 10 about 81 IL has been above SO
several times above 100 two three times. and below
80 In nearly every reaction from the extreme points
reached in the advances referred TO- surrounding al
these previous there has also been
which proved 10 be mystery when the collapse came
Now 1t may be possible that phanthropc capitalist
intends his private resources 10 reduce the
funded debt OF tho company by onehaf or that some
other corporation like the Philadelphia and Reading and
some others which might he named with earnings 80 great
that the abilities OF the management are taxed to de-
wise methods OF expenditure. intends not only
10 pay the unearncd interest OF the Jersey Central Rail
road also handsome dividend upon It's stock Tor the
privilege OF using thirty miles OF Its ono hundred
miles OF road 10 complete q connection with the New
York harbor The Central Railroad OF New-Jorsey ~
good road and well equipped, aud serves the section
through which IL runs with comnendablo care AMI
promtness But IL Is bonded for $4,000 per MILE aud
that is the snag upon which all efforts to relieve
suited in sinking It deeper into tho inire We have re-
latei little ancient history and called attention TO the
existing situation because although mystery proves
potential IN stock speculation than actual dcve
opmen 1t is fact that the recent movement IN central
OF NewJersey which has been 80 ich the SUBJECT OF con
versation and guessing and also the o
operations the buying side and encouraged further
reazations the selling side or the general market
strength there in the market and IL power OF alb
sorpton. In this respect y Is worth while 10 notice IA,
and profound mystery When the Reading
scheme OF rcoreanzauon was hrst brought S Sa,
stock In the ncigborood OF 20 and Jersey central
scheme until the success practically assured has apprc
catcd the value o! Reading stock about 70 per cent
while a profound aud nudiscovcrab'e mystery OF u
scheme for the reorganization OF Central OF NewJersey,
II is in embryo. has advanced the price OF mat soe
81 Louis and San Francisco preferred were noilceaby
strong against tho general market all day The strength
of louisville and Nashville due 10 large European
buying, and the special strength OF the 81 LOUIS ana
San Francisco aside from It's large earnings was because
Of some contest nj the forthcoming election Of directors
T. I. Oppenhem Co.. who represent "a large proper
on OF i6e holders Of preferred stock. who think the
mc has come when the earnings OF the company should
be devoted to the payment OF dividends the preferred
shares instead Of TO the purchase OF other pl9pcres
ard securities by advertisement invite holders OF all So
curties forward their proxies Attention day or Two
ago directed TO the advertisement OF representative
OF the existing management The contest has nesuei IN
very rid In the price Of the junior stocks ana ~
also has brought forth the following as resolution IMAM
monsy carried at meeting OF the board OF directors
held to-day: THAT the present earnings, II continued
Indicate that the company Will soon be Ia position
10 pny dividends upon is preferred stock" The general
market ruled weak and unsettled until within the last
half hour Of business when sharp rally was begun-the
result OF sponancity well devised pan-which al
vanced prices rapidly that IN majority OF cases tic
carly declines mostly recovered from and In many
instances tho final prices the hest OF the day andad
yanccs upon yesterday closing Tho market closed cx
cited and strong In figures. -,
Government bonds quiet and easier with The bids
for the Is an1 4as OF per cent Annexed are the clos
ing quotations: